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Envision: Financial institutions innovate on customer experience

Banking leaders from all over the world met last week at Microsoft Envision in Orlando, Florida, to explore the future of intelligent banking and the customer experience.

Among them were thought leaders from TD Bank, Bank of America, and Deutsche Bank, who each took to the stage to deliver an inspiring look at how their organization has transformed to deliver powerful and unique customer experiences. The people at Envision 2018 also allowed me to deliver a presentation on empowering intelligent banking—including the key drivers behind the rise of smart, connected digital services.

Intelligence is key to digital transformation in the retail banking sector, not just to enable the personalized experiences today’s customers expect, but to differentiate your customer experiences in an increasingly disruptive, data-driven banking culture.

My Envision 2018 highlights

I’d like to share with you how three leading retail banks use intelligence right now to drive innovation and differentiate their customer experience in this age of dramatic change.

Intelligent financial services: Differentiate your customer experience
Speaker: Lakshmi Stockham – TD Bank

Now the sixth largest bank in North America, TD Bank placed the human experience at the center of its US expansion by empowering every employee with the tools and intelligence they need to deliver on the TD Bank brand promise of legendary service at every touchpoint.

Lakshmi Stockham, SVP for Retail Banking at TD Bank, described how the bank continues to make strides in customer-centric digital transformation. By embracing innovations like cloud services, automation, and AI-powered analytics, the bank can win new business while more traditional organizations have been held back by changing regulations.

For TD Bank, it’s crucial to retain the human touch in an increasingly automated world.

How today’s technology is transforming the client experience
Speakers: Charles Liu and Christian Kitchell – Bank of America

As they tell it, digital technology is helping Bank of America reimagine the branch experience. As customer expectations shift toward fast, connected, and always-on service, the bank is working to build ‘the financial center of the future.’

Using smart, connected technologies, Bank of America can deliver a personalized branch experience wherever its clients are. For example, if customers don’t want to leave home to consult bank staff, they can use video conferencing or engage an AI-powered service assistant like Erica.

As for its brick-and-mortar branches, Charles Liu, the bank’s Head of Branch Strategy and Transformation, is turning them into ‘client destinations,’ offering clients high-tech, high-touch services and immediate, personalized guidance from financial professionals.

Seeing a glimpse of what a financial center of the future might look like, it was easy for me to see why Bank of America remains one of North America’s leading financial innovators.

Empower digital stewardship by modernizing your workforce
Speakers: Mark Ellis and Fred Schuster – Deutsche Bank

In this inspiring talk, we learned how Deutsche Bank navigated the many challenges of a radical cloud transformation while helping ensure compliance in one of the world’s most highly regulated markets.

With a goal to empower digital stewardship with a modernized workforce by 2020, Deutsche Bank has made staggering progress. For example, by giving all its relationship managers Microsoft Surface tablets to consult with customers personally at their homes, the bank has found an ingenious way to balance strict regulation with customer expectations.

Customer needs may change day-to-day, but judging by what I’ve seen so far, Deutsche Bank will have no trouble empowering its people to deliver the intelligent, connected experiences they expect.

Join the Leaders

Are you ready to accelerate your own intelligent banking journey? It’s time to turn change into opportunity and create lifelong brand advocates with smart customer experiences. Read more in our Banking on AI e-book.